Steadview Capital Management LLC Lowers Stake in Shopify Inc. $SHOP

Steadview Capital Management LLC trimmed its holdings in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 24.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 319,664 shares of the software maker’s stock after selling 101,195 shares during the quarter. Shopify makes up about 6.8% of Steadview Capital Management LLC’s investment portfolio, making the stock its 5th largest holding. Steadview Capital Management LLC’s holdings in Shopify were worth $47,505,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Heartwood Wealth Advisors LLC bought a new stake in shares of Shopify during the 3rd quarter valued at $27,000. Rothschild Investment LLC lifted its position in Shopify by 47.5% during the second quarter. Rothschild Investment LLC now owns 233 shares of the software maker’s stock valued at $27,000 after purchasing an additional 75 shares in the last quarter. Financial Gravity Companies Inc. purchased a new stake in Shopify in the second quarter worth about $27,000. Tradewinds Capital Management LLC increased its position in Shopify by 71.4% in the second quarter. Tradewinds Capital Management LLC now owns 240 shares of the software maker’s stock worth $28,000 after buying an additional 100 shares in the last quarter. Finally, Coastline Trust Co bought a new position in shares of Shopify in the second quarter worth about $29,000. 69.27% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

SHOP has been the subject of a number of recent research reports. Citigroup reiterated a “market outperform” rating on shares of Shopify in a research note on Thursday, December 4th. BMO Capital Markets upped their price target on shares of Shopify from $180.00 to $190.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 5th. Stifel Nicolaus set a $175.00 price objective on shares of Shopify in a research report on Tuesday, November 4th. UBS Group set a $195.00 target price on shares of Shopify in a research note on Wednesday, December 3rd. Finally, Benchmark reiterated a “buy” rating on shares of Shopify in a research note on Wednesday, December 3rd. Twenty-four investment analysts have rated the stock with a Buy rating and twenty have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $171.61.

Shopify Stock Performance

Shares of NASDAQ:SHOP opened at $137.64 on Friday. The firm has a market cap of $179.19 billion, a price-to-earnings ratio of 101.96, a P/E/G ratio of 4.09 and a beta of 2.83. The firm has a fifty day moving average price of $159.16 and a 200 day moving average price of $150.10. Shopify Inc. has a fifty-two week low of $69.84 and a fifty-two week high of $182.19.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last announced its quarterly earnings results on Tuesday, November 4th. The software maker reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.03. The company had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.75 billion. Shopify had a net margin of 16.65% and a return on equity of 11.72%. As a group, research analysts predict that Shopify Inc. will post 1.12 earnings per share for the current year.

Shopify Profile

Shopify is a Canadian commerce technology company that provides a cloud-based platform for businesses to create, manage and scale online and physical retail stores. Its core offering is a software-as-a-service e-commerce platform that enables merchants to build customizable storefronts, manage product catalogs, process orders, and handle inventory. Shopify also supports omnichannel selling through integrated point-of-sale (POS) systems for in-person transactions.

Beyond storefront software, Shopify offers a range of merchant services and tools designed to simplify commerce operations.